Skip to comments.Germany current account surplus said to hit record, eclipsing China
Posted on 01/15/2014 12:01:24 AM PST by Berlin_Freeper
BERLIN - Germany's world-beating current account surplus probably hit a new record in 2013 of about $260 billion, the Ifo think tank said on Tuesday, prompting the government to pledge to boost domestic spending and investment.
It may even have eked out the first surplus with China since reunification, Ifo said.
Germany's surplus was far higher than China's, the world's leading exporter, which was in second place with $195 billion, Ifo said. Germany's was equivalent to 7.3 percent of gross domestic product (GDP), once again breaching the European Commission's recommended upper threshold of 6 percent.
"Germany was the biggest exporter of capital in the world," Ifo told Reuters in an emailed response to questions.
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I’m not surprised.
Holland is quite Germanic and also runs a large trade surplus most years
I AM surprised, and impressed, that Germany has a surplus that exceeds China’s. Germany is but a fraction as large as is China. America is being left behind, and not by accident, in my opinion. Barack wants us to have the same status as England, a still great nation, but only a faint shadow of its former influence. That’s how he wants us to be, nicely neutered. I don’t think that will happen though. Fracking and the use of our natural gas resources will make us a very big exporter of industrial fuels. Not to mention, the ongoing invention and innovation in this country.. Sorry Barack, we will reestablish our number one greatness shortly after your exit from our White House. Have fun in your Hawaiian Batchelor pad.
I guess I’m not surprised based on the culture differences.
Yeah, but we’ve got their gold bullion and we ain’t giving it back.
“...prompting the government to pledge to boost domestic spending and investment.
Why not reduce tax rates? If current tax rates provide for the budgeted costs of government, and a surplus why is the knee jerk reaction “we’ll increase spending to eat up the surplus”?
No worries, after careful consideration and input from his top advisors, Obama has decided to scold Germany for exporting so much. Problem solved.
Free Traitors love income taxes, low (or no) import tariffs and open borders. Yeah we’re f’d.